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Chapter 7 Vocabulary
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Terms in this set (9)
discount
the amount by which the regular price of an item is reduced. The sale price is the regular price minus the discount.
percent equation
part = percent x whole
percent of change
a ratio that compares the change in quantity to the original amount.
percent of decrease
a percent of change when the original quantity decreased.
percent of increase
a percent of change when the original quantity is increased.
percent proportion
compares part of a quantity to the whole quantity using a percent.
principal
the amount of money deposited or invested.
sales tax
an additional amount of money charged on items that people buy.
simple interest
the amount paid or earned for the use of money. The formula for simple interest is
I = prt
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